Esenjay Investments, LLC, a significant shareholder in Flux Power Holdings, Inc. (NASDAQ:FLUX), has recently sold a portion of its holdings in the company. The transaction involved the sale of 16,453 shares at an average price of $3.3217, resulting in a total sale value of approximately $54,651.
The sale took place on May 17, 2024, and was disclosed in a regulatory filing with the Securities and Exchange Commission. The shares were sold in multiple transactions at prices ranging from $3.31 to $3.335. Following this transaction, Esenjay Investments, LLC, which is under the directorship and beneficial ownership of Michael Johnson, still holds a substantial number of shares in Flux Power Holdings.
Flux Power Holdings, based in Vista, California, operates in the miscellaneous electrical machinery, equipment, and supplies industry. The company has been known by several names in the past, including Lone Pine Holdings, Inc. and Australian Forest Industries, before adopting its current name.
Investors often monitor insider sales as they may provide insights into the company's performance or an executive's view of the company's prospects. However, it is important to note that there can be various reasons for such transactions and not necessarily a reflection of the company's future outlook.
The sale by Esenjay Investments is part of the routine disclosures required by company insiders and significant shareholders. The transaction details, including the number of shares sold and the price range, are available upon request to the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer.
For more information on Flux Power Holdings and its recent insider transactions, interested parties can refer to the company's filings with the SEC.
InvestingPro Insights
Flux Power Holdings, Inc. (NASDAQ:FLUX) has recently seen significant trading activity from one of its major shareholders, Esenjay Investments, LLC. While insider transactions are closely watched, investors may also benefit from considering broader financial metrics and analyst insights. According to InvestingPro data, Flux Power Holdings holds a market capitalization of $51.42 million, with a Price / Book ratio over the last twelve months as of Q3 2024 sitting at 9.49. This valuation metric may suggest that the company's assets are priced relatively high compared to its book value, a point of interest for value-focused investors.
Additionally, the company has experienced a price decline of 23.21% over the last month and is currently trading near its 52-week low, which could indicate a potential entry point for investors who believe in the company's long-term prospects, despite recent market performance. The InvestingPro data further reveals a negative Revenue Growth of 2.19% over the last twelve months as of Q3 2024, which might be a concern for those looking for short-term growth.
Among the InvestingPro Tips, it's noted that the stock is currently in oversold territory according to the RSI, which could suggest a possible rebound if market sentiment shifts. However, it's also highlighted that analysts have revised their earnings estimates downwards for the upcoming period and do not anticipate the company will be profitable this year. These insights could be crucial for investors trying to gauge the future financial health of Flux Power Holdings.
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